Bhujia Goes Global

The 88-year-old Indian snacking giant, Haldiram's, is fuelling global expansion by raising funds from marquee investment firms

- BY ARNAB DUTTA

► WHAT BEGAN AS a small namkeen shop in Rajasthan’s Bikaner in 1937 by Ganga Bhishen Agarwal is set to capture global consumer markets. India’s leading homegrown packaged foods major, Haldiram’s, is raising significant amounts from global investment firms.

The 88-year-old family-run group will fund its growth plans in overseas markets with the receipts. Haldiram’s Snacks Food, a flagship entity of Haldiram’s Group, recently raised capital from three leading investment companies: Temasek, Alpha Wave, and International Holding Company (IHC). While the company did not specify details, sources say it has raised as much as $1 billion selling a 10% stake, taking its valuation close to $10 billion (₹87,000 crore).

A Haldiram’s Group spokesperson says the group is looking forward to working with investors to harness the value they bring from their experience in the consumer space to accelerate the company’s growth and strengthen its ability to meet evolving consumer demands. Singapore-based Temasek is a leading investor from Asia with a net portfolio value of $288 billion as of 31 March 2024.